The Surprising Ways China Affects the U.S. Economy
China's economy produced $23.12 trillion in 2017, based on purchasing power parity. It's the world's largest economy. The European Union is second, at $19.9 trillion. The United States fell to third place, producing $19.3 trillion.
China has 1.38 billion people, more than any other country in the world. China is still a relatively poor country in terms of its standard of living. Its economy only produces $16,600 per person, compared to the U.S. gross domestic product per capita of $59,500.
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Built economic growth on low-cost export
China-US trade war
Encourage trade with African nations
Fund construction of railways and infrastructure
Increase domestic consumption
Measures on economic reform
Rely on exports to fuel growth
Rival to American-dominated transatlantic trading area